I'm not sure the regulation here is great. As with Rx-only contraception, these regulations force patients to spend money and discuss their intimate life with a doctor for no real reason, which many people find difficult. And it's not like you undergo thorough screening to get Viagra anyway. A doctor is not gonna say "no".
The problem with bodies such as the FDA is that once they address grave risks, they seldom reach this point of "OK, we fixed the problem of arsenic in patent medicine, so let's scale back for now." Instead, the bureaucracies only grow. Today, far too many drugs are Rx-only and stay this way for too long. The need for prescriptions for equipment such as eyeglasses or contact lenses is hard to justify too.